Brands
Marico ups advertising spends in Q2 FY21
Leading FMCG player Marico stated in its quarterly report that the brand has upped its advertising spends in Q2 FY21 (July, August, September 2020) to pre-Covid levels. This is a good sign for the industry that has been reeling under the declining ad expenditure from brands these past few months.
The report further stated that Parachute, a flagship brand from the company, reaffirmed its strong brand equity and clocked growth ahead of medium-term aspirations. Saffola edible oils continued its stellar run and delivered strong volume growth in line with past few quarters. Value added hair oils showed resilience and returned on a growth trajectory in the quarter from a sharp decline in Q1.
Foods portfolio, riding the tailwind and on the back of innovations, continued its momentum and registered exponential growth in line with the company’s near-term expectations. Discretionary portfolios of premium hair nourishment and male grooming performed better than Q1 but continued to face headwinds.
The company also launched new products in the health and hygiene segment that were tracking well across most channels. Marico has strengthened its position in the healthy foods and immunity-boosting segment with the launch of the Saffola ImmuniVeda range.
The international business has clocked mid-single digit constant currency growth. Bangladesh continued to lead from the front with double digit growth while other markets have shown improvement sequentially.
As per the company, rural continued to perform better than urban aided by government’s focused relief packages, relatively lower impact of the pandemic, the resilience of the agricultural sector in a declining GDP context and the consumption shift due to reverse migration of labour. Although there were intermittent supply chain disruptions across locations due to localized lockdowns, the distribution network has rebounded back to near pre-COVID levels. Traditional trade and e-commerce continued to drive growth. While modern trade fell behind, it did improve sequentially.
Although the key raw materials have seen an inflationary trend towards the end of the quarter, the brand expects to deliver healthy earnings growth on the back of robust volume growth and a host of cost-saving initiatives.
As lockdown restrictions are progressively easing, the company maintains a positive outlook for the rest of the year provided the ongoing health crisis does not escalate further and economic activity revives steadily. Given that the medium-term potential of the franchises remain firmly intact, we believe the company is on track to deliver sustained profitable volume-led growth, through a focus on strengthening the franchise in the core categories and driving the new engines of growth towards gaining critical mass.
Brands
Home Essentials raises Rs 70 Cr in pre-series B round
360 One Asset leads funding as D2C brand scales stores and supply chain
GURGAON: Home Essentials, a fast-rising direct-to-consumer brand in India’s home and kitchen space, has secured Rs 70 crore in a pre-series B funding round led by 360 One Asset, with participation from existing backer India Quotient.
The fresh capital is set to fuel the company’s next phase of growth, with a clear focus on offline expansion, supply chain muscle, and sharper product innovation. Over the next three years, the brand plans to scale revenue to Rs 500 crore and reach five million Indian households.
Founded in 2024 by brothers Tanishq Jain and Divyam Jain in Gwalior, Home Essentials has moved swiftly from small-town start-up to national contender. Built on a simple but compelling idea that Indian homes deserve products that are practical, pleasing to the eye, and fairly priced, the company has carved out a niche between high-end luxury labels and no-name utility goods.
From airtight storage solutions to ergonomic loose furniture, its design-first approach has struck a chord with a young, aspirational consumer base. In under two years, the brand has served more than a million customers while maintaining strong unit economics and a clear path to profitability.
Offline retail now forms a key part of the growth blueprint. The company plans to operate 20 stores across India by the end of the year, strengthening its omnichannel presence and bringing its tactile, experiential format to both Tier 1 and Tier 2 cities.
360 One Asset senior fund manager Sumit Jain said, the brand is reshaping a highly fragmented category with products that combine aesthetics and function. He noted that the founders have demonstrated disciplined execution and capital efficiency while building a business that resonates with modern Indian households.
India Quotient partner Madhukar Sinha, added that the firm backed Home Essentials early after identifying a clear gap in the market for thoughtfully designed yet affordable home utilities. He said the new funding would help the company expand its catalogue and broaden its national reach.
For Home Essentials co-founder and CEO Tanishq Jain, the mission is straightforward but ambitious. He said the company aims to become the go-to destination for well-designed home and kitchen essentials, with experiential stores reinforcing what began as a strong online play.
Co-founder and chief marketing officer Divyam Jain, emphasised that winning in India’s D2C space requires more than sharp branding. A deep understanding of consumer aspiration, tight supply chain control, and operational efficiency are just as vital, he said, describing 360 ONE Asset and India Quotient as partners in building a high-performance organisation.
In a category long defined by cluttered shelves and uneven quality, Home Essentials is betting that good design, fair pricing, and disciplined execution can turn everyday living into a more polished affair.
